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Can someone take a look at DTMI and tell me what you think? Fresh off a reverse split and now this news...
VocalScape, Inc. and Dtomi, Inc. Jointly Announce the Merger of VocalScape, Inc. Subsidiary VocalScape Networks, Inc. With Dtomi, Inc. 10/28/2005 WHITE PLAINS, N.Y. and VANCOUVER, British Columbia, Oct 28, 2005 /PRNewswire-FirstCall via COMTEX/ --
On October 28, 2005, VocalScape, Inc. and Dtomi, Inc. (OTC Bulletin Board: DTMI) today jointly announced that on October 4, 2005, Dtomi, Inc. and VocalScape Networks, Inc. ("VocalScape"), a subsidiary of VocalScape, Inc., effected a merger pursuant to that certain Agreement and Plan of Reorganization (the "Agreement") by and between Dtomi and VocalScape August 25, 2005. Effective October 4, 2005, the date that Articles of Merger effecting the merger were filed with the Nevada Secretary of State, VocalScape became a wholly-owned subsidiary of Dtomi. Pursuant to the Agreement, Dtomi shall issue shares of its preferred stock, convertible into shares of common stock and with voting rights equal to 82% of the voting power of the stockholders of Dtomi, to VocalScape in exchange for VocalScape merging into a wholly owned subsidiary of Dtomi. The business of VocalScape will now become the primary business of Dtomi.
VocalScape provides VoIP telephony solutions and communications software for Internet Service Providers ("ISPs"), Internet Telephony Service Providers ("ITSPs") and Telecommunications companies worldwide. VocalScape develops VoIP and interactive communications software including Soft phone applications, Customer Acquisition and Billing Systems, SIP Servers, Gatekeepers and Virtual Calling Cards. VocalScape's strategy is to focus on VoIP software and Long Distance termination solutions that bring together a full range of communications solutions and services thereby providing a turn-key VoIP infrastructure for ISPs, ITSPs and Telecommunications companies. Dtomi continues to also operate its Air Spring Axle business.
David Otto, director of Dtomi, stated, "We are very pleased to have found an acquisition candidate with a solid business for Dtomi. After careful consideration, the board of directors felt that VocalScape was the best option for Dtomi. VocalScape has a business with significant market potential and an experienced operating team. We have a valuable reporting company, and VocalScape is looking for a vehicle on the OTC Bulletin Board from which it can operate its business and grow its company."
Ron McIntyre, President of VocalScape, added, "By joining forces with Dtomi, we hope to expand our current business of providing customers with market leading solutions that help them create and sustain high performance organizations. I believe the combined entities and the financial resources of a publicly traded company on the OTCBB will offer us an opportunity to build a larger and more profitable company that serves customers from corporate enterprises and small businesses to individual customers and governmental organizations in an exceptional fashion. We believe this is an ideal strategic move to leverage and expand our business model."
Additionally, On October 5, 2005 and in connection with the merger of Dtomi and VocalScape, the Board of Directors has appointed Robert Koch, Ron McIntyre, Larry Hartman and Ryan Gibson to the Board of Directors of Dtomi. Mr. Koch will also serve as Chairman of the Board and Chief Executive Officer of Dtomi, and Ron McIntyre will serve as President.
On October 12, Dtomi effected a 1-for-400 reverse split of its issued and outstanding shares of common stock. In connection with the reverse split, Dtomi's new ticker symbol is "DTMI".
About Dtomi
Dtomi, Inc. is an emerging developer of interactive communication software. Dtomi, Inc. provides VoIP telephony solutions and communications software for Internet Service Providers (ISPs), Internet Telephony Service Providers (ITSPs) and Telecommunications companies worldwide. The Company develops VoIP and interactive communications software including Soft phone applications, Billing Systems, Gateways, SIP Servers, Gatekeepers and Virtual Calling Cards.
Safe Harbor Act Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward- looking statements relate to, among other things, expectations of the business environment in which the Dtomi operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Dtomi's mission and vision. Dtomi's actual results, performance, ability to successfully transition the former business of VocalScape into Dtomi, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward- looking statements.
With respect to VocalScape, Inc., the Pink Sheets does not require companies whose securities are quoted upon its systems to meet any listing requirements. With the exception of a few foreign issuers, the companies quoted in the Pink Sheets tend to be closely held, extremely small and/or thinly traded. Most do not meet the minimum listing requirements for trading on a national securities exchange, such as the New York Stock Exchange or the NASDAQ Stock Market. Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find reliable, unbiased information about those companies. For all of these reasons, companies quoted in the Pink Sheets can be among the most risky investments. That's why you should take extra care to thoroughly research any company quoted exclusively in the Pink Sheets. Be aware that some broker-dealers are required by SEC Rule 15c2-11 to have some information about the issuer. Ask your broker-dealer whether it has any Rule 15c2-11 information before you invest.
Contact: Ryan Gibson Dtomi, Inc. VocalScape, Inc. 1-877-285-5587
SOURCE VocalScape, Inc.
Ryan Gibson, of Dtomi, Inc. and VocalScape, Inc., 1-877-285-5587 http://www.prnewswire.com Copyright (C) 2005 PR Newswire. All rights reserved.
treemoney
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I saw this one today. One thing I noticed is it looks like really low volume. Since its reverse split it looks like the volume has ranged from 500 to 23000. Im not sure if the spread info I saw was correct but it looks like the ask was .25 and the bid .17 which would explain the low volume. If the volume and the spread look good tommorow it could be good.
treemoney
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only 152,000 outstanding shares
servant_350
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.....
servant_350
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quote:Originally posted by treemoney: only 152,000 outstanding shares
which is good or bad?
Elia
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If I'm not mistaken, it might be bad because it means low liquidity. On the other hand, liquidity rules go out the door if there is demand.
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